Tuesday, September 16, 2014

Producer Prices Remained Stagnant in August

Producer prices held steady in August. The pace of growth slowed for the second consecutive month. Price growth in services was offset by the price decline in goods. Year-over-year growth increased slightly to 1.8%, but is still below the 2.0% target of the Federal Reserve.

Prices for finished services increased 0.3% in August, driven largely by transportation and warehousing and other. Finished goods prices declined 0.3%, due to a 1.5% decline in energy prices. Gasoline prices continue to drop rapidly.

Prices at earlier stages of production showed similar patterns. Processed intermediate energy declined 1.7% and unprocessed intermediate energy dropped 4.9%. Total processed intermediate goods dropped by 0.3% and unprocessed intermediate goods sharply declined 3.3%.

Read the BLS report.

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